Applied Digital Solutions' Cleveland-Based Unit, STR, Inc. in Partnership With PaylinX Corporation, Offers Single Payment Solution to Retailers.Business Editors/High Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--Jan. 14, 2000 Applied Digital Solutions, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), today announced a partnership between STR STR abbr. synchronous transmitter receiver , Inc. - its Cleveland-based retail systems and software development company - and PaylinX Corporation, a leader in enterprise payment solutions, to provide enhanced payment solutions tailored to the multi-channel requirements of specialty retailers. The companies will integrate the PaylinX payment server with STR's TradeRoute connectivity and messaging application suite. The new partnership allows STR to offer a leading enterprise payment solution to its growing list of specialty retail clients and gives PaylinX greater access to the specialty retail market. Numerous Benefits to Retailers The integrated solution - STR TradeRoute and PaylinX payment server - will simplify a retailer's IT structure by moving authorization/settlement processing from its stores to a centralized platform. All credit/debit authorization and settlement transactions will be routed through a wide area network (WAN) to the centralized platform and on to a credit card processor. Using one simplified enterprise payment solution, retailers realize substantial savings (through reduced processing fees) on each credit/debit transaction and significantly increase processing speed See MHz. at the point of sale. The PaylinX engine is designed to support all means of retail channels - including e-commerce, POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale , catalog, IVR (Interactive Voice Response) An automated telephone information system that speaks to the caller with a combination of fixed voice menus and data extracted from databases in real time. and kiosks, to name a few - making it the only payment engine that a retailer needs. Its six-dimensional scalability allows retailers to grow in transaction volume, while continuing to add retail channels, payment methods, features, and applications. Its programming flexibility, including COM-based interfaces, makes connectivity between applications a snap. Commenting on the announcement, Applied Digital Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Richard J. Sullivan said: "STR's specialty retail customers are looking to consolidate systems and reduce overlap in their IT infrastructure. Partnering with PaylinX helps STR's clients centralize all credit transactions, simplify their IT architecture and save money on each credit card transaction. We are now able to offer retailers a unique solution that will help our customers cost justify implementation of a Wide Area Network among all of their stores." Mark Belles, vice president of alliances at PaylinX, said: "STR understands the needs of the specialty retail market. This partnership will enable STR's customers to readily accommodate payments in call centers, at the point-of-sale, and over the Internet. Our integrated technology brings tremendous value to merchants by consolidating payment across the enterprise and eliminating the need for developing and maintaining home-grown or single task payment applications." About PaylinX PaylinX Corporation is a recognized leader in e-commerce payment solutions. The PaylinX payment server is a robust, enterprise-wide transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. platform that operates behind the scenes to authorize and settle credit card and other payment transactions in real-time through built-in connections with third-party processors and merchant banks, all in seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. with legacy front-end, customer relationship and financial management systems. The fully scalable PaylinX payment solution enables organizations to accept and process payment transactions across multiple channels-Web storefronts, in-store point-of-sale systems, call centers, interactive voice response systems, and kiosks-all through a single, uniform payment architecture. PaylinX may be reached at (314) 692-0929 or http://www.paylinx.com. About STR STR, Inc., an Applied Digital Solutions company based in Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. , develops and markets in-store systems and corporate data warehousing See data warehouse. data warehousing - data warehouse tools to the retail industry. STR has more than 15,000 contracted installations in a client base of internationally recognized specialty retail companies. To learn more about STR, please visit http://www.STRinc.com. About Applied Digital Solutions, Inc. Applied Digital Solutions, Inc. is an e-business to business solutions provider offering Internet, telecom, LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. and software services to a wide variety of businesses throughout North America. For more information, visit the Company's web site at http://www.adsx.com. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are `forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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